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Trump victory sparks early losses though markets bounce back


USA

Trump victory sparks early losses though markets bounce back

Wall Street opened edgy after the Trump victory with investors keeping their powder dry amid fears that no one appears to have a plan.

As news of the result filtered through the Dow Jones fell, the S+P dropped to the five percent cutoff point.

Oil prices slipped overnight and the Mexican peso hit a record low after Trump promised protectionist policies, a threat to the free trade between the two countries.

The Canadian dollar also fell.

There is now a great deal of doubt surrounding the Federal Reserve’s expected December interest rate rise.

The president elect has been has been critical of chair Janet Yellen.

The big winner, as well as Donald J Trump, is gold that safe haven, the port in a storm that some believe will rise as high as $1.400 an ounce.

In Europe the impact of a Trump victory was far weaker than the reaction to Britain’s vote to leave the European Union in June which wiped trillions of dollars off world markets.

Despite earlier losses the markets appeared reassured following Trump’s victory speech.

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